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THE JSE SECURITIES EXCHANGE CLEARING AND SETTLEMENT 8 May 2003

THE JSE SECURITIES EXCHANGE CLEARING AND SETTLEMENT 8 May 2003. WHERE DO WE START. 1999 STRATE T+5 Rolling Contractual Settlement Guaranteeing of Trades by JSE Ring Fencing Segregation of clients assets. PROCESS FLOW TIMELINE.

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THE JSE SECURITIES EXCHANGE CLEARING AND SETTLEMENT 8 May 2003

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  1. THE JSE SECURITIES EXCHANGECLEARINGANDSETTLEMENT8 May 2003 www.jse.co.za

  2. WHERE DO WE START • 1999 STRATE • T+5 Rolling Contractual Settlement • Guaranteeing of Trades by JSE • Ring Fencing • Segregation of clients assets www.jse.co.za

  3. PROCESS FLOW TIMELINE Equities clearing and settlement in South Africa is relatively complex, involving many parties, systems and interfaces. SETS Client B (Seller) Client A (Buyer) Buy Order Sell Order Contract Note Buy Order Sell Order Contract Note Matched Trade Broker A Broker B BDA Allocations Allocations Settlement Confirmation / Affirmation Settlement Confirmation / Affirmation Trade Monitoring System Settlement Order Settlement Order Status Intimations Allegement SAFIRES CSDP Allegement CSDP Status Intimations Status Intimations Commitment Commitment Payment Confirmation Payment Order Funding of Amount Payment of Amount SAMOS www.jse.co.za

  4. PROCESS FLOW TIMELINE T T+1 T+2 T+3 T+4 T+5 Settlement Order Deal Execution Deal Allocation Contract Note Deemed Affirmation Client / Broker Client Affirmation to CSDP or Client Rejection to Broker Broker Net Broker Re-Allocation Non-Controlled Client Breach Client Affirmation on Re-Allocation Principal Assumption CSDP Commitment SA Margining Broker Borrowing CSDP Commit Failed Trade SA Borrowing Settlement www.jse.co.za

  5. Trade Monitoring System www.jse.co.za

  6. Trade Monitoring System www.jse.co.za

  7. Trade Monitoring System www.jse.co.za

  8. Trade Monitoring System www.jse.co.za

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